The Ritz-Carlton Hotel Company was established by president and founding father Colgate Holmes along with four business partners in 1983. At that time, the only existing Ritz-Carlton hotel was located in Boston. By 1992, the company had opened 22 additional hotels in the United States. By 1998, the company was acquired by Marriott International. Today, Ritz-Carlton Hotels is based in Chevy Chase, Maryland, operates more than 90 luxury hotels in 30 countries and territories, and employs more than 40,000 people.

The Credo

• The Ritz-Carlton is a place where the genuine care and comfort of our guests is our highest mission.
• We pledge to provide the finest personal service and facilities for our guests, who will always enjoy a warm, relaxed, yet refined ambiance.
• The Ritz-Carlton experience enlivens the senses, instills well-being, and fulfills even the unexpressed wishes and needs of our guests.

The Motto

At the Ritz-Carlton, “We are Ladies and Gentlemen serving Ladies and Gentlemen.” This motto exemplifies the anticipatory service provided by all staff members.

Service Values

1. I build strong relationships and create Ritz-Carlton guests for life.
2. I am always responsive to the expressed and unexpressed wishes and needs of our guests.
3. I am empowered to create unique, memorable, and personal experiences for our guests.
4. I understand my role in achieving the Key Success Factors, embracing community footprints, and creating the Ritz-Carlton mystique.
5. I continually seek opportunities to innovate and improve the Ritz-Carlton experience.
6. I own and immediately resolve guest problems.
7. I create a work environment of teamwork and lateral service so that the needs of our guests and each other are met.
8. I have the opportunity to continuously learn and grow.
9. I am involved in the planning of the work that affects me.
10. I am proud of my professional appearance, language, and behavior.
11. I protect the privacy and security of our guests, my fellow employees, and the company’s confidential information and assets.
12. I am responsible for uncompromising levels of cleanliness and creating a safe and accident-free environment.

In order to ensure the effective implementation of its legendary service philosophy, the Ritz-Carlton emphasizes the importance of teamwork at all of its properties. In particular, teamwork is emphasized in service value #7—I create a work environment of teamwork and lateral service so that the needs of our guests and each other are met. Lateral service means that all Ritz-Carlton employees must support each other in realizing the hotel’s mission. Sometimes this may involve performing duties and responsibilities that are not part of their job, such as assisting a guest with his/her luggage, obtaining a bottle of shampoo or soap from housekeeping for a guest, or providing a recommendation for a good local restaurant or show to see for a guest.

The company uses a variety of practices to support lateral teamwork, including the following:

• Managers foster a culture that supports teamwork through the effective modeling of desired behaviors and recognizing those who practice lateral teamwork;
• Employees provide informal training on what their coworkers need to do to provide lateral teamwork and how they need to do it;
• Employees complete formal training on teamwork as well as participate in team-building activities;
• Employees team up with each other (e.g., concierge and the hotel’s restaurant manager) when doing so will enhance a guest’s experience;
• Managers incorporate lateral teamwork into the professional development plans of employees so that they can see how lateral teamwork can enhance their ability to grow and advance at a personal and professional level.

Discussion Questions

1. What types of groups/teams are used at the Ritz-Carlton Hotels?
2. How are roles defined in order to support teamwork at the Ritz-Carlton Hotels?
3. Evaluate the performance of teams at the Ritz-Carlton Hotels in terms of the six dimensions of a team process.
4. How does the Ritz-Carlton develop teams?

​​​​​​​LANGUAGE IS JAVA

• Part One

• A hotel salesperson enters sales in a text file. Each line contains the following, separated by semicolons:
  • The name of the client,
  • the service sold (such as Dinner, Conference, Lodging, and so on),
  • the amount of the sale,
  • and the date of that event.
• Prompt the user for data to write the file.

  Part Two

• Write a program that reads the text file as described above, and that writes a separate file for each service category, containing the entries for that category. Name the output files Dinner.txt, Conference.txt, and so on.
• Enter the name of the output file from Part One as a command line argument.

  Both Parts

• For all programs, catch and handle the Exceptions appropriately and validate the input data where needed.
• Display an error if the sales file does not exist or the format is incorrect.
• Also, create your own exception to handle "unknown transaction" exceptions.

  Samples:

  • Contents of sales.txt (file created in part one)

    John Public;Dinner;29.95;6/7/2014
    Jane Public;Conference;499.00;8/9/2014
    Abby Lawrence;Dinner;23.45;10/10/2014
    

  • Contents of Dinner.txt (file created in part two)

    John Public;Dinner;29.95;6/7/2014
    Abby Lawrence;Dinner;23.45;10/10/2014
    

  • Contents of Conference.txt (file created in part two)

    Jane Public;Conference;499.0;8/9/2014
    

Grading Criteria

• You will be graded on the following components:
• Does the program do what is required
• Is it properly documented
• Is it fully tested
• As always, remember to create a default constructor and override the toString() method for all classes.
• Is it properly designed

Investors are considering funding of new video games. How many people must be surveyed in order to be 95% confident that the estimated percentage is within 4% points of the true population percentage? A.) Assume nothing is known about percentage of people who play video game. B.) Assume that 16% of people play video game.

Business Class

21. Tsymbal owns a parcel of real estate unencumbered by any liens (“free and clear”). She can be said to own the real estate:

a. conditionally;

b. subject to a life estate;

c. in fee simple absolute;

d. pursuant to a bailment contract.

22. Washington is a community property state.

T / F

23. In this type of deed, the seller not only conveys ownership in a parcel of real estate, but the owner also guarantees good title to the buyer.

a. a quit claim deed;

b. a sheriff’s deed;

c. a deed in trust;

d. a warranty deed.

24. This power allows the government to condemn private property and commit it to public use, after duly compensating the owner.

a, the power of fee simple absolute;

b. zoning;

c. eminent domain.

d. force majeure.

25. While she is attending a movie, McCulloch visits the restroom. While in the restroom, she removes her wristwatch and leaves it on the sink. Hasso finds the watch. The legal owner of the watch is:

a. McCulloch;

b. Hasso;

c. the owner of the theater;

d. the state of Washington.

You are given the sample mean and the population standard deviation. Use this information to construct the​ 90% and​ 95% confidence intervals for the population mean. Interpret the results and compare the widths of the confidence intervals. If​ convenient, use technology to construct the confidence intervals. A random sample of 6060 home theater systems has a mean price of ​$135.00135.00. Assume the population standard deviation is ​$15.8015.80. Construct a​ 90% confidence interval for the population mean.

The​ 90% confidence interval is ​(_,_​). ​(Round to two decimal places as​ needed.)

Construct a​ 95% confidence interval for the population mean. The​ 95% confidence interval is ​(_,_). ​(Round to two decimal places as​ needed.) Interpret the results.

Choose the correct answer below.

A. With​ 90% confidence, it can be said that the population mean price lies in the first interval. With​ 95% confidence, it can be said that the population mean price lies in the second interval. The​ 95% confidence interval is wider than the​ 90%.

B. With​ 90% confidence, it can be said that the population mean price lies in the first interval. With​ 95% confidence, it can be said that the population mean price

Question 4 [20 marks] Analyze if the statements that are presented below are True or False. You MUST justify your answer to get credit. Answers without justification (even if they are correct) will be given zero marks.

(a) In any Pareto-optimal allocation of a two-good economy, each consumer has to consume a positive amount of both goods.

(b) A monopolist never produces on the elastic segment of its average revenue curve.

(c) If a firm’s production exhibits increasing returns to scale, then the firm’s marginal costs are decreasing and below its average costs.

(d) Maroon Theater practices third-degree price discrimination and sells tickets to three groups of customers: students, regular customers and senior citizens. The inverse demand of the three groups is linear. Furthermore, the students’ and senior citizens’ elasticities of demand for tickets are −4 and −3, respectively. Because the price charged to regular customers is greater than the price charged to senior citizens, we know with certainty that the ticket price for students will be lower than the ticket price for regular customers.

Use the six-step hypothesis testing where appropriate:

1. You have been told that the mean price of two movie tickets including online service charges, a large popcorn, and two medium soft drinks is $38. Based on a sample of 10 theater chains and assuming a normal distribution, the sample mean was found to be $36.53 and the standard deviation was $3.38. At the 0.05 level of significance, is there enough evidence to indicate that the average price is now less than $38?

a. What is the appropriate null and alternative hypothesis for problem 1? Use both words and notations

b.What level of significance and sample size is used in this problem?

c.What type of problem is this? What formula will you use? Why?

d. What is the correct critical value for the problem? How did you find it?

e.What is the correct value for the test statistic? Provide the formula used and show work

f. Should you accept or reject the null hypothesis? How much confidence do you have in your decision? Restate the null of alternative hypothesis. What policy decision would you make?

Can you use Twitter activity to forecast box office receipts on the opening weekend? The following data (stored in TwitterMovies indicate the Twitter activity (“want to see” and the receipts ($) per theater on the weekend a movie opened for seven movies. Solve this problem to two significant digits.

1. What is the independent variable (X) in this question?
2. What is the dependent variable (Y) in this question?
3. Create a scatter plot of the X and Y variables.
4. What is the Y intercept when X = 0?
5. What is the slope?
6. What is the correlation between the X and Y variables as measured by the R Square? How strong is this correlation?
7. Predict the mean receipts for a movie that has a Twitter activity of 100,000.
8. Should you use the model to predict the receipts for a movie that has a Twitter activity of 1,000,000? Why or why not?
   

36-40

The cost of merchandise sold reported on the income statement was $770,000. The A/P balance decreased $44,000, and the inventory balance decreased by $66,000 over the year. What is the amount of cash paid for merchandise?

A coal company invests $16 million in a mine estimated to have 20 million tons of coal and no salvage value. It is expected that the mine will be in operation for 5 years. In the first year, 1,000,000 tons of coal are extracted and sold. What is the depletion expense for the first year?

A company purchased land for $90,000 cash. Real estate brokers' commission was $5,000 and $7,000 was spent for demolishing an old building on the land before construction of a new building could start. Under the cost principle, the cost of land would be recorded at

The indirect method of reporting cash flows from operating activities uses the logic that a change in any balance sheet account can be analyzed in terms of changes in the other balance sheet accounts.

True

False

If you asked your broker to purchase for you a 12% bond when the market interest rate for such bonds was 11%, you would expect to pay less than the face amount for the bond.

True

False

Fullerton Aggregate processes raw shale into lightweight aggregate material. This process requires heat treating shale and injecting it with fly ash as it passes through rotating kilns. The shale both expands and hardens in the process, and is ideally suited to road construction.

The following information is available for a recent period:

Beginning work in process on September 1 consisted of 75,000 tons that were 80% complete with respect to raw materials and 50% complete with respect to conversion costs.

Ending work in process on September 30 consisted of 60,000 tons that were 70% complete with respect to raw materials and 40% complete with respect to conversion costs.

860,000 tons of material were put into production, and 875,000 tons exited production.

There is no spoilage or loss of tonnage in the production process.

Beginning work in process carried a total cost of $265,000, divided 40/20/40 with respect to direct material/direct labor/factory overhead.

Additional costs incurred during the month were $3,000,000, divided 50% to direct material and the remainder on a 1:2 ratio between direct labor and factory overhead.

Using (a) the weighted average method and (b) the FIFO method, calculate:

1. Equivalent units 2. Cost per equivalent unit 3. Costs assigned to cost of goods manufactured and ending inventory.